Savings Calculator
Calculate how your savings will grow over time with regular deposits and compound interest.
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How to Calculate
FV = P(1+r)^n + PMT × [(1+r)^n - 1] / r
Where FV = future value, P = initial principal, r = interest rate per period, n = number of periods, PMT = periodic contribution amount.
Frequently Asked Questions
How much should I save each month?
The 50/30/20 rule suggests saving at least 20% of your income. For specific goals, calculate how much you need and work backward to find the monthly amount needed to reach your target.
How does compound interest help my savings?
Compound interest means you earn interest on your interest. Over time, this creates exponential growth. The earlier you start saving, the more time compound interest has to work in your favor.
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